Hey yo, guess who is BACK in Chico Crypto black!?
I’ve Missed every single one of you & I dearly missed providing the best type of crypto
content, on the tube!!
The type of content you gotta see to believe.
Well I’m real, I’m here, and our belief is stronk.
You know our intro...it’s time for Chico Crypto!!!
Well since this is my first fully produced video back...let’s begin with the KING crypto.
Bitcoin….
Pulling out the charts over the past 6 months, not the most bullish looking chart especially
lately, but BTC finding itself at the high 30ks, as of yesterday...is not a bad thing.
It’s actually a bbbbbulllishhh thing!
Why do I think this?
Well the more that things change….the more they stay the same!
I want to pull out this old chart, from May of 2019, 2 years ago... of the Bitcoin Bull
Cycles, from the beginning….
As you can see the price, back then was just above 8 grand, and in the accumulation zone!!
I wonder if the price of Bitcoin, back then, did exactly what was expected….a bit higher
accumulation green, a fall into reaccumulation, and then post halving and into 2021...bull
cycle?
Well of course it did, the price chart almost matched it exactly!!
Thus based on where we are today, in that chart, wich has been spookily accurate so
far, 37 grand as of 5/24/2021...we at least have another 6-9 months left of this bull
cycle.
As the lengths of the bull markets historically, are expanding.
But out there, many are shouting at the top of their lungs...bearish!
The top was 60k, and what we are currently experiencing with the DIP, and now the short
term recovery... is the bull trap.
Like a crypto whale, on twitter, that was his chart...who has a large following!!!
Over 200 thousand followers...he is obviously a bearish trader.
Is he correct?
Well, what happens during a bull trap...it looks like the markets are going to make a
v-shaped recovery!
Which could be happening...
Now I wan’t to revisit another tweet from another very popular BTC trader, Willy Woo,
who is the opposite, a bullish outlook trader.
He said this about the markets on May 20th, an explanation of why he is still bullish,
but he also said this “It’s still a bull market.
Newish whales dumped out, retail bough a chunk of the dip, coins getting more distributed.
I’ll take that as a win.
The big question I have is whether we get a faster v-shaped recovery or a longer sideways
band of re-accumulation…
I’m gonna stop you right there Willy!
We should be worried about a v-shaped recovery...that would get my stomach churning.
Going back up too fast is exactly what a bull trap would do....we don’t want that…..
What do we want?
Consolidation, sideways maybe even falling a bit more, down into the high 20ks!
That would be bullish, and as crazy as that sounds..., would be more bullish, than if
the price of BTC was 50k by today, or tomorrow!
So what’s the Chico, TA, Tyler Analysis, opinion of what is going to go down!!
Well what we want happening right now….is what they call the bear trap.
The bear trap happens pre crazy market euphoria….as we can see from the crypto whales chart, he
thinks the bear trap came around September of last year, when BTC dipped from a peak
of around 12175 to a low of 10,125...A measly 17 percent decrease, of which Crypto Whale
calls this cycles bear trap!
Chico calls that bullcrap, because that ain't no bear trap, that just a normal day in cryptocurrency.
A Bear TRAP is just that, a trap of the bears.
Whale Bears don’t get trapped with a measly 17 percent DIP, they get trapped by dips of
30 percent or above….
Going back to the 2017 bull run, many analysts call the bear trap of that cycle happening
between august and september 2017.
During that time a dip from $4863 bucks to a low of 3100.
A retrace of over 35 percent….
But Chico...We are months away from august or september… and we dipped by over 50 percent!
Why so significant and why did the bear trap happen so early this time?
Well you gotta go back in time, to the bull cycle before…2017
2013 to the beginning of 2014.
The first time I got involved with the asset.
Unfortunately coingecko doesn’t go back far enough, but we can use this chart with
the PI-Top indicator.
Usually this Technical Analysis indicator, the dotted orange line, points to a cycle
top….but in 2013, there was one that happened, before the real top….the BIG BEAR Trap...which
began in April of 2013.
BTC crashed from over 230 dollars, to a low 66 bucks by July 2013...
A 71 percent decrease, yeah...a fall off a cliff bear trap.
But the charts show, it wasn’t over, they picked right back up….breaking 1100 by the
actual peak…
Now, I want to pull out this chart, of BTC today, and what we are going through, compared
with the 2013 cycle….look how close they are tracking each other!!!
Like I Said the more things change….the more they stay the same….we are in a clear
day to me, BEAR TRAP…
Need more proof of the bear trap?
The new institutional crypto Powers that be, wanted to get the markets moving faster than
they should.
Dual Tweets came from BTC and crypto power influencers, Elon Musk and Micheal Saylor….Talking
about North American Bitcoin Mining, and turning it...whadda ya think???...Greeen!!
And the PUMP came, pushing BTC across 40k for a second, but then it slid back under….settling
down into the high 30ks….
That is good, for the health of this run….But that LEADS me into what we are finishing this
episode off with!
Who was involved with that BTC Mining Meeting with Saylor and Musk.
Well Saylor in his tweet thread, actually revealed it…
Saylor said “Yesterday I was pleased to host a meeting between Elonmusk
& the leading Bitcoin miners in North America.
The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency
& accelerate sustainability initiatives worldwide.
Execs from ArgoBlockchain, BlockCap, Core Scientific, Galaxy Digital, Hive Blockchain,
Hut8mining, Marathon Digital Holdings and Riot Blockchain were present & decided to
establish an organization to standardize energy reporting, purse industry ESG goals, and educate
and grow the marketplace.
Sooo, it is true, top players are really sitting down together to talk about transparency of
their energy usage and how to accelerate sustainable uses.
Elon Musk he LIKES as it’s potentially promising!
Well who is the company we should be focusing on from that list.
The one that Elon see’s potential promise in???
Well the one who is furthest along on something like that and even has the initial date set
of when to get it done.
That is ArgoBlockchain and they plan to be completely green, carbon neutral, including
all operations by 2030.
May 14th, just 11 days ago, it was announced that Argo Blockchain had signed the crypto
climate accord algonside DMG!
The businesswire news release said this about the partnership “to promote the decarbonization
of the cryptocurrency industry.
Alongside the CCA, Argo and DMG are developing a new working group to more clearly outline
the accord’s objectives while deploying new technologies that increase the transparency
of the renewable energy sourcing of crypto mining”
Doesn’t that sound just like the goal of the Bitcoin Mining council?
Saylor said their goal was to promote energy usage transparency & accelerate sustainability
initiatives worldwide...is the Bitcoin Mining Council the new working group, hinted at in
the berkshire press release!?
((Link #6 Argo Crypto Climate Accord))
Well if so, and you know anything about this channel, we’ve covered the crypto climate
accord...we know who’s behind it.
The Energy Web Chain...and scrolling down to Signatories, of course one is Argo and
about them it says “Crypto Climate Accord Signatories are crypto market participants
that make a public commitment to achieve net-zero emissions from electricity consumption associated
with all of their respective crypto-related operations by 2030 and to report progress
toward this net-zero emissions target using best industry practices.”
This is where Elon see’s the promise….from the Accord!
But how about another little breadcrumb or hint you could say.
Another member of the Bitcoin Mining council listed by Saylor, is also involved as a supporter
of the accord.
That is Hut8 Mining….
Hmmm is all Chico has to say….Cheers I’ll see you next time!